The presence of a large geriatric and target patient population and the improving healthcare infrastructure in several APAC countries are expected to offer growth opportunities in the market during the forecast period.
The market for osteoarthritis therapeutics is anticipated to be marginally affected due to the outbreak of COVID-19. Among drug types, the use of corticosteroids has reduced. Although there is no evidence to suggest that corticosteroid injections lead to a substantial increase in the risk of infection, there is a possible reduction in the immune response for up to a few weeks following the procedure. While this risk is extremely low, it needs to be considered when deciding to proceed with the procedure.
It should also be noted that the WHO, in one of its guidelines for the management of severe acute respiratory infection in patients with coronavirus, suggested avoiding systemic corticosteroids.
The adoption of pain medications for the management of pain associated with osteoarthritis is expected to remain high over the coming decade, which is anticipated to propel the growth of the market during the study period.
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Topical, oral, and parenteral pain medications are widely used to manage pain associated with osteoarthritis. Although alternatives such as orthopedic braces are used as part of a noninvasive approach for pain management, the adoption of pain medications for the condition is high owing to the ease of administration and the affordability of pain medications.
The use of biomarkers to identify patients who are likely to respond to specific medical therapies may increase treatment response rates and reduce the risk of exposure to therapies that are unlikely to be effective or expose patients to serious treatment-related side-effects. The combination of unique biomarkers and baseline clinical characteristics such as sex and age may further enhance efforts to personalize treatment regimens for RA.
Based on anatomy, the market is segmented into knee, hip, hand, and small-joint osteoarthritis therapeutics. Knee osteoarthritis therapeutics is the largest and the fastest-growing segment in this market. This can primarily be attributed to the high incidence of knee osteoarthritis.
The viscosupplementation agents segment accounted for the largest share of the osteoarthritis therapeutics market in 2019. The rising incidence of knee osteoarthritis is the major factor driving the growth of this segment. Viscosupplementation effectively eases the pain of osteoarthritis through injections that fill up the joint’s synovial fluid, thus offering better lubrication of the joints.
The parenteral route accounted for the largest share of this market in 2019 and is estimated to grow at the highest CAGR during the forecast period. This can be attributed to the wide adoption of the parenteral route for administering osteoarthritis therapeutics owing to the ease of administration and the better pharmacokinetics and pharmacodynamics, resulting in better patient compliance.
The major players operating in Osteoarthritis Therapeutics Market are Sanofi (France), Horizon Therapeutics PLC (Ireland), Johnson & Johnson (US), GlaxoSmithKline PLC (UK), Bayer AG (Germany), Abbott (US), Pfizer, Inc. (US), Eli Lilly (US), Anika Therapeutics, Inc. (US), Novartis AG (Switzerland), Ferring Pharmaceuticals (Switzerland), Bioventus (US), Zimmer Biomet Holdings, Inc. (US), Fidia Farmaceutici s.p.a. (Italy), Flexion Therapeutics, Inc. (US), Pharmed Limited (India), Virchow Biotech (India), Kitov Pharmaceuticals Ltd. (Israel), Assertio Therapeutics, Inc. (US), Atnahs (UK), Almatica Pharma LLC (US), OrthogenRx (US), LABRHA (France), Hanmi Pharm. Co., Ltd. (Korea), and Laboratorio Reig Jofre (Spain).